Victimisation, Well†being and Compensation: Using Panel Data to Estimate the Costs of Violent Crime

David Johnston, Michael Shields and Agne Suziedelyte

Economic Journal, 2018, vol. 128, issue 611, 1545-1569

Abstract: The costs of violent crime victimisation are often left to a tribunal, judge or jury to determine, which can lead to considerable subjectivity and variation. Using panel data, this article provides compensation estimates that help reduce the subjectivity of awards by providing a benchmark for the compensation required to offset direct and intangible costs. Individual†area fixed†effects models of well†being that allow for adaptation and the endogeneity of income suggest that, on average, A$88,000 is required to compensate a violent crime victim, with the amount being greater for females (A$102,000) than males (A$79,000).

Date: 2018
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https://doi.org/10.1111/ecoj.12478

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Working Paper: Victimisation, Wellbeing and Compensation: Using Panel Data to Estimate the Costs of Violent Crime (2015)
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